A report on the world's Lithium resources and reserves by R. Keith Evans. For a DOC/PDF version of this report, please contact the author.

Saturday, March 29, 2008

RESERVE AND RESOURCE SUMMARY

In the National Research Council report the authors adopted their own definitions of reserves and resources ranging from reserves proven by systematic exploration to resources where economic lithium extraction was probably dependent upon the marketing of co-products or the development of new technologies.

Stricter classifications require that the term ‘reserves’ apply only to material that can be economically produced at the time of determination. The term also implies that the material can be extracted with existing technology at a specific price-usually the prevailing market price.

Neither technologies nor prices are ‘fixed’ and this report is written at a time when a major increase in demand seems a strong possibility.

Potential large scale consumers need to know what could be available over a long period whether a particular source is fully proven or not.

The report lists a total of 28.5 million tonnes of lithium, equivalent to nearly 150.0 million tonnes of lithium carbonate – equal to 1775 years of supply at the current rate of demand (approximately 16,000 tpa Li).

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